2nd Apr 2014 09:48
LONDON (Alliance News) - Workspace Group PLC Wednesday said it has secured further planning permission for the second phase of its mixed use development in Wandsworth, south London.
The provider of office space for new and small companies said the permission is for a site adjacent to the Filaments, Workspace's current joint development with residential property developer Mount Anvil.
The new scheme will be a 20 storey tower, comprising 77 apartments, 3,000 square feet of retail and restaurant use and 15,000 square feet of new business space. This second phase of the site will bring Workspace's overall Business Centre at this location to 70,000 square feet, capable of housing over 120 businesses, it said.
The first phase of the Workspace business centre will open in December 2014.
"The redevelopment will...provide a significant boost to both the capital value and rental income of the site and demonstrates our ability to add significant value through asset management," Chief Executive Jamie Hopkins said in a statement.
Workspace Group shares were up 0.5% at 586.5 pence Wednesday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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